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Lifetime APR rate on Credit Card
bigdolphin1
Posts: 1 Newbie
in Credit cards
Hi - I was looking at a recent Barclaycard offer on my card for 6.6% APR on balance transfers until repaid - can you compare this directly with a loan at 9% APR for example ? My thought is it would be cheaper (given I cannot take out any more credit cards as I don't want to kill my credit rating as it is only 'Fair') to transfer a balance to this card rather than take out a loan but am I missing something on the maths here ? Repayments for a £10k loan at 9.5% are £202 over 5 years but cant figure out what the costs would be on the credit card over the same period.
Many thanks !
Many thanks !
0
Comments
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You'd need to factor in any transfer fees.0
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If you take in all fees calculate the overall cost and you will see how much you save0
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